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200302817
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200302817
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Last modified
10/15/2011 5:53:25 PM
Creation date
10/21/2005 4:23:29 PM
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DEEDS
Inst Number
200302817
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200302817 <br />ARTICLE XVI <br />REMEDIES TO BE CUMULATIVE <br />(No Implied Waiver) <br />Lessor and Lessee shall each be entitled to specific performance and injunctive or other <br />equitable relief for any breach or threatened breach of any of the provisions of this Lease- Purchase <br />Agreement, notwithstanding the availability of an adequate remedy at law, and each party hereby waives the <br />right to raise such defense in any proceeding in equity. The specific remedies provided for in this Lease - <br />Purchase Agreement are cumulative and not exclusive of any other remedy. The failure of any party to insist <br />in anyone or more cases upon strict performance shall not be construed as a waiver or relinquishment for the <br />future. No acceptance of rent with knowledge of any default shall be deemed a waiver of such default. <br />ARTICLE XVII <br />ASSIGNMENT OF LEASE- AMENDMENTS - REMEDIES OF TRUSTEE <br />Lessee accepts notice that this Lease- Purchase Agreement has been assigned and pledged to <br />the Trustee, and that the basic rent and additional rent payable to Lessor under this Lease- Purchase <br />Agreement have likewise been assigned to tile'frustee to provide payment for and as security for the Building <br />Bonds issued by Lessor; and Lessee consents and agrees for the benefit of the Trustee and the registered <br />owners of said bonds, that until payment of all said Bonds and interest thereon or until funds sufficient for <br />such payments have been duly provided, this Lease- Purchase Agreement may not be effectively amended, <br />changed or modified except as permitted by the Indermam, and that the Trustee has and may exercise all <br />rights and remedies of Lessor provided for in this Lease - Purchase Agreement, either in its own name or in the <br />name of the Lessor. <br />ARTICLE XVIII <br />CONVEYANCE TO LESSEE <br />On the termination of this Lease-Purchase Agreement, if the Lessee has paid all the rentals <br />due to Lessor under the terms of this Lease-Purchase Agreement, Lessor will convey and transfer the Project <br />to Lessee by good and sufficient instrument of conveyance free and clear of all liens and encumbrances, <br />except any encumbrances caused by default of Lessee hereunder or agreed to by Lessee, and such <br />conveyance shall be made without payment by Lessee of any additional rental or other consideration therefor. <br />In the event that Lessee prepays basic rentals in full as permitted under Article II in such manner that all <br />bonds (including the Building Bonds and any additional bonds) issued pursuant to the Indenture have been <br />fully satisfied and any and all additional rentals then due have also been paid in full prior to the expiration of <br />the term of this Lease- Purchase Agreement, this Lease- Purchase Agreement will thereupon be terminated and <br />the Project transferred to the Lessee in the same manner and on the same conditions as above provided upon <br />termination of this I ease- Purchase Agreement. <br />13 <br />
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